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of "the washington post" mean for the entire news industry? "countdown to the closing bell" starts right now. ♪ double knockout ♪ ♪ liz: good afternoon, i am liz claman and it is the last hour of trading. a glitch in trading that we want to tell you about. global markets it is not yet known and last time we had a technical glitch on march 23, it has the part of the ipo. and cbs calling time warner cable a bluff on their offer of a sham. time warner cable has proposed is to return the cable. but only as an À la carte operation and offering. we are seeing hat done about two full percentage points newspaper ads making sure that people understand the position gold dropping $19.60 to 1000 to 82. it is just slightly above that right now. we are talking about this program. we just don't know where to go at this point. >> we are accounting for 86 points. ibm is pulling the dow jones down. part of it is the downgrade that you just mentioned. they are saying that the stock fell as low as $175. they are much closer of the 52 week low than the 52 week high. liz: how far is try carl icahn goi
says we are monitoring the comments, obviously, coming from the white house. let's go to the washington correspondent, rich edson, live at the white house. the president, i guess, as we listened to all the comments throughout the afternoon from the president and secretary tear of state, john kerry, there's more questions than answers here as to the timetable, rich. >> absolutely. the timetable, the specifics, and the goal they are looking to achieve, but what you heard from the administration today was a very strong case that in some way, the united states or the international community along with the united states must act. president obama saying he has not decided on a particular course of action yet. he says his military advisers have given him a range of options. he still is mulling them over, looking at them now, and john kerry laid out intelligence earlier today saying with a high level of confidence he believes the assad regime used chemical weapons and do so against his own people saying our national values compel us to act in this particular case, and the intelligence basically
americans back to work. what the fed should do and how to break the deadlock in washington. billionaire investor not done yet in a fox business exclusive. ichan tells us he is done biting dell's shares. today his company just released earnings. wait until you see how icon enterprises is really doing. and should you order up? a top money manager says that you would have to be crazy not to be invested in u.s. stocks right now. the dow 20,000 will happen. he will share his top stock picks with you. ito begins right now. ♪ good afternoon, everybody. i'm liz claman, the last hour of trading. well, another fed president to says depending upon certain metrics we should be ready to start tapering. the president of the cleveland federal reserve bank said this you would be ready to scale back the debt fed bond buying program if the labor market continues to improve, but she did not specify the timing on this. nonetheless, she is saying if we continue on this introductory we have been following right now, it should be time to soon start tapering. we will ask former treasury secretary paul o'neil
to peter barnes in washington. peter: we have more fed speak on when the fed should begin tapering. it has been a big issue for investors. he will be giving formal remarks in a speech on monetary policy which we expect will cover some of this. he will push again to wait on dialing down quantitative easing. he said "inflation has been running very low. i have been concerned about low inflation. he said it is important for fed credibility to hit that target that it has set for itself. there have not been much indication so far. markets are trying to digest this latest paper talk. the ten year treasury is about flat. since bernanke, the fed chairman, made those original tapering comments back in may, the yields have gone from 1.9% to 2.17%. an etf for the homebuilders is trading lower and is down over 9%. liz: that would be, of course, jpmorgan, wells fargo. thank you very much, peter. watch the ten year. we can actually put that back up so people can see. definitely watch the homebuilders. we are waiting on james bullard to start speaking. every time somebody inside the fed makes public comm
gathering at the national mall in washington d.c. five decades ago, 50 years' anniversary of martin luther king jr.'s i have a dream speech. presidents carter, presidents clinton all there listening in. certainly, a tough day for president obama as he celebrates a history, he also has to deal with what is happening overseas in syria as he and his cabinet get ready to potentially make a strike against the country after president assad used chemical weapons, so certainly a tense day in washington, but also a day of celebration. wanted to bring you those remarks just there for a moment. >>> well, back here in new york we're watching u.s. markets, and really the markets, the numbers recovering today from those big losses we had yesterday. oil, though, we do want to say is still climbing higher as investors await possible u.s. strikes on syria. what is next in this crisis? let's bring in right now wayne lynn, global allocation strategist, and ike baker, a former cia officer. mike, i want to start with you, as we saw the president giving those remarks in washington, certainly behind the scenes a
coe? what do you need from washington? what do you need to maybe make that economic recovery brighter, in your opinion, where you don't have to cut 4,000 people? >> all right, cheryl, you've asked a series of questions, and if it's all right, let me frame it in terms of the quarter. i think it's important to understand when i make my comments, our expenses next year will be flat to slightly up. what we're doing in the cuts that we're making is we have to reinvest very quickly in terms of opportunities that are moving very it's in this market. and since we aren't as optimistic as we'd like to be about the global gdp growth, we're doing this from a caution point of view very carefully in terms of how we do it. we are communicating to our employees very openly, you said it right, this is the hardest decision you make as the ceo. we met with 18,000 of our employees by telepresence, by video this morning, shared with them what we're doing. they get to grill us for literally an hour and 15 minutes with any question, fair game. they understand what we're doing and why. but this is a lot diff
will be banging on the door. again, for now, 3:25 p.m. eastern time. want to get that rich edson and washington d.c. speaking to nasdaq listed ceos of billion medium-sized companies. about four out of seven are telling me they absolutely suspect that there is something nefarious. simply because how could it not -- paired with the problem the other day. of course we don't know yet because the nasdaq is not said anything. what is the sec looking at? >> we don't know that yet either with the sec is doing right now is essentially monitoring the situation. they did convene a conference call according to the sec right after this started. stayed on the phone while they tried working out the problems. the treasury department -- remember, treasury, the secretary is the head of the financial stability oversight council. that was created by dodd-frank and responsible for making sure that the market is performing a carry. basically financial security. they have been notified of this. the treasury secretary has been briefed and is being updated out on the west coast, expected to speak about an hour. we will b
that there were not enough cuts at the time. guess what? it's all coming to pass again. peter barnes in washington, d.c.. when does the clock run out? >> when does the clock run out, liz, did you say on the latest debt ceiling? liz: yeah, uh-huh. >> it already ran out back on may 18th, and it is -- but, as you know, the treasury is doing a special and extraordinary measure to stay under the debt ceiling by not funding federal pensions and pensions for federal employees, not using this foreign exchange fund that the treasury has, so for now, we won't -- we'll be able to pay -- the government can pay bills probably until after labor day, according to the treasury, probably into october, possibly november, and i do want to point out, though, that standard and poors feels a bit better about the partisan divide here in washington now. not that it won't continue, but if it does, it's not as potentially damaging, especially after the budget deal at the beginning of the year to raise taxes and raise the debt ceiling to may 18th and now longer. in a new report last month, s&p analysts expect repeated divis
with a bunch of attacks i was airing preemptively which is a standard washington exercise that i don't like, when somebody has worked hard for me and worked hard on behalf of the american people, and i know the quality of those people, i see them getting slapped around in the press for no reason before they have even been nominated for anything. i felt the same way when people were attacking susan rice. my main criteria, i stated this before, my main criteria for the federal reserve chairman is somebody who understands they have a dual mandate, a critical part of the job is making sure that we keep inflation in check and my trade policy is sound, the dollar is sound, those are critical components of the job we have seen happens when the fed is not paying attention. we saw prior to paul volcker coming into place inflation shooting up. the other mandate is full employment. right now the biggest challenges we have, the challenge is not inflation, the challenges we still have too many people out of work, too many long-term unemployed, too much slack in the economy, and we are not growing as fas
this very lucrative of the center for the banks and credit card companies. peter barnes is in washington d.c. with the latest. >> reporter: wants the bank and retail stocks on this because they are battling once again over the so-called swipe fees the retailers pay banks when customers use debit cards. banks collected about $15 billion in swipe fees from retailers last year. under financial reforms in 2010 congress ordered the federal reserve to cut the fees for banks. the fed did from about $0.44 on an average transaction of $40 set up $0.24, but retailer said that was still too high and sued the fed in court. two weeks ago that one in a statement bankers called the decision a windfall, especially for big change saying the price controls on sweet peas serve one purpose, further lining the pockets of our nation's big box retailer at their own customers' expense. retailers say the decision will force the fed to cut fees even more which will benefit consumers. >> pass along the lower cost of goods and other promotions and discounts, but a customer service. the point is it is not pulling to r
. that is more important thing for investors to focus on, not the slice from washington. liz: the stock has done relatively well year-over-year. charlie gasparino has been working on a lot of stories on fox business writing about the facts jamie dimon did who is revered and made it through the other battle to split the chairman job versus the ceo, what do you think about whether this somewhat shakes the foundation in d.c. and stabilizes it or not. >> he has fought his battles and has come out the ther end. what we're dealing with now are the regulators are looking for ways to correct behavior so they are trying to take the wall street money center banks that used to get under pressure, kind of put this back into the marketplace and now try to make some kind of stay within the boundaries. this is the first post financial crisis issue we have seen kind of evolved and they will take it to the fullest extent to make sure the regulatory tone at the top is recommended and still aware of at each of these. >> totally agree with my colleagues. the way they handle this situation, and they had promptly go
.s. markets is the subject of president obama's meeting going on right now in washington on regulatory reform. the president urges top financial regulators to implement the dodd-frank reforms, and there's more than a thousand that have yet to be enacted despite being passed in congress way back in 2010. we need to get to jpmar begin, in the cross hairs of the u.s. government, this time, nothing to do with the $6 billion london wale trading scandal or complex electricity contracts. look at the stock. it is one of the laggards of the dow jones industrials. now, according to the new york times, this time it's about the bank's practice of hiring the kids of powerful chinese officials. and they are upset what's happening there. how common a practice is this? jo spent five years in beijing covering the chinese government, business, and economy. first, the stock, letting people know it is down, about two and a third percent. let's get to the practice of hiring the children of powerful, political people. that's common place for a corporation. sometimes there's business and political communities; righ
, the senate confirms it. this thing is coming down the pike, it is imminent in washington terms. talking about weeks away. i would not be surprised if they did it before labor day. why does he want summers? he feels comfortable with him in case there is another crisis. the next three years with obamacare looming and the fact they have to start cutting back and larry summers is seen as some recent papers faster than janet yellen, it will be an issue. liz: charlie gasparino, thank you very much. appreciate it. the closing bell in 29 minutes. could an electronic trading glitch like what happened yesterday spiral out of control and cause a market meltdown? member the flash crash? we're hearing for from a man wo says the collapse of knight capital that was also affected by the trading glitch. how about giving your meal the old college try with some school pride. what a creative idea. one fast food chain helping you fly your college colors in the most unique way. you have to stay tuned for this when we come back, stay tuned. she loves a lot of the same things you do. it's what you love about her. b
was in line with forecasts a also down more new revised guidance. let's get the story from washington d.c. marion international ceo and president. great to see you. many types of travelers, business, leader, the frugal traveler all use different brands of hotels. collectively how was the traveler doing? >> the individual traveler is doing great as we speak. the only pause in our report this morning was the near term group business. a little bit soft. so when you look at the individual business travelers, families taking vacation. what we saw, about six, seven, 8%. that has been steady. really strong performance. liz: which group is -- in them separating them from the actual group traveler, but a business traveler, leisure traveler with a little bit more money? who is doing the best? >> that they put the business traveler and leisure, but probably the higher end leisure is strongest. you talk about ritz-carlton. we had a dozen ritz-carlton resorts in florida who are performing very, very well. the west coast's performing great. those are driven often buy high-end leisure travel. but the
from washington d.c.. yesterday we had motorola of mobility showing us with so many other products like comcast or all sorts of things haveebeen overtaken apple? >> for innovation they have swapped with product after product after product after product but it is more about quality than quantity in b.c. jobs here -- steve jobs but unfortunately tim cook is not steve jobs when they look overwhelmed. liz: day google's has overtaken or overtaking and apple has a shot? >> apple definitely has a real shot i feat they are retracting their words but to watch these companies go after one another it is good for the consumer. so it is fun to see these companies to match one another. liz: that make the case for apple because now they are in the defensive position. >> apple has a lot of great things going for it but just for the sake to bring it up will get the phone it has stayed the same for quite some time which some people are bothered by the other people like it and then it takes advantage of that screen to make it feel bigger even though they have not enlarged it it still the size you can stuf
in the nation for the sixth straight year is washington d.c. where drivers are likely to get into a collision once every four and a half years. the second most dangerous, baltimore md. coming in and number three, providence, rhode island. city drivers in the east have more accidents because urban areas in the region are typically more congested than communities in the south and the west. the safest large city from the phoenix arizona. we drive slow. but most bragging rights for safety, fort collins, colorado. i have to show you this video. you don't want to be this driver. you don't want to be this person. al, my god. i'm scared. anyway, that was creepy. don't be that person. stay safe. speaking of safety, and the market's investors have a flight to safety in the concerns about possible u.s. strikes on syria. sibila king for strength? joining is not a put some muscle in your portfolio, president and director of equities. i do want to start with this issue. certainly on a day like today we see gold spiking, silver spiking. you see this flight to safety. to you think investors are making a knee
Search Results 0 to 15 of about 16